Sunrun (NASDAQ:RUN) Trading Up 6.7% - What's Next?

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s share price rose 6.7% during mid-day trading on Tuesday . The stock traded as high as $6.13 and last traded at $6.25. Approximately 2,738,559 shares traded hands during trading, a decline of 74% from the average daily volume of 10,564,136 shares. The stock had previously closed at $5.86.

Wall Street Analysts Forecast Growth

RUN has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price objective on Sunrun from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group cut shares of Sunrun from a "buy" rating to a "hold" rating and cut their price target for the stock from $14.00 to $8.00 in a report on Wednesday, March 12th. BNP Paribas upgraded shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 price objective for the company in a research note on Tuesday, January 7th. UBS Group dropped their target price on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, BMO Capital Markets reduced their target price on Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.20.

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Sunrun Trading Down 5.0 %

The company has a market cap of $1.42 billion, a P/E ratio of -3.42 and a beta of 2.74. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm's 50-day moving average price is $7.68 and its 200-day moving average price is $10.96.

Insider Activity at Sunrun

In other news, Director Edward Harris Fenster purchased 150,000 shares of Sunrun stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the transaction, the director now directly owns 1,358,182 shares of the company's stock, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $9.59, for a total value of $479,500.00. Following the completion of the sale, the director now owns 991,753 shares in the company, valued at $9,510,911.27. This trade represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,466 shares of company stock worth $1,136,397. Corporate insiders own 3.77% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. lifted its holdings in shares of Sunrun by 593.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after acquiring an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP lifted its stake in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Sylebra Capital LLC boosted its holdings in shares of Sunrun by 124.0% in the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after purchasing an additional 3,699,405 shares in the last quarter. Norges Bank bought a new position in shares of Sunrun during the 4th quarter valued at about $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Sunrun during the 4th quarter valued at about $18,500,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.